Weinberg Capital Partners has held the final close of WREP#2, a France-dedicated real estate fund.
The fund, which launched last July, raised over EUR200m, 30 per cent above its target objective, having attracted strong support from international institutional investors who account for half of the total commitments.
Evidence Capital acted as placement agent for the fund’s international investors.
Weinberg Real Estate Partners #2 completed its first investment in April 2014, a 20,000 sq m compound of three distinct office buildings, called Campus Aviso, located in Puteaux (La Défense area). The transaction was in the form of the purchase of the shares of an OPCI regulated vehicle.
WREP#1, which launched in 2008, has invested in offices, retail and clinics, selecting assets with sound real estate fundamentals and value creation opportunities. Weinberg Real Estate Partners #2 follows the same opportunistic investment strategy.
Laurent Halimi, managing partner and head of real estate at Weinberg Capital Partners, says: “WREP#1’s strong performance has demonstrated our ability to create value. We look forward to building upon the real estate franchise set up seven years ago based on investment discipline and active asset management through market cycles.”
Serge Weinberg, founder and president of Weinberg Capital Partners, adds: “we have received strong support from leading French investors that backed us from the very beginning of WREP#1 joined by new French and non-French institutional investors. With two new funds, Weinberg Capital Partners has built a solid platform in real estate and buyout.”